Hi everyone, the gap of 06/03/20 was finally closed at 528 after which a large decline followed, see here the importance of the improving effect of this level on which large parties were trading. Can we now expect a further major drop?
To get a better picture, I first discuss the day chart: after the sideways movement of the month of April, there was only an outbreak upwards in the last few days and this to close the gap, this outbreak does ensure that we are above the MA50 This could now provide support this is important to keep an eye on in the first week, the RSI must also go below 50 to drop further! On Monday it runs around 505. If it breaks, the next target is 482, an old support!
Now the hour chart
Here we saw a short signal again in the last hours of yesterday, it is important that it now remains below the MA50, I have made a slightly rising trend channel from the sideways movement which now coincides with 505, this is also the level of the MA50 in the daily graph as discussed earlier. See here the importance of this level. Support can still be found here!
An overview :
There is a short signal in the hour chart to 505 initially, below 505 (MA50) there is also a short signal in the day chart which will give a larger drop initially to 482.
Follow this idea for updates!
Good luck traders!
regards
TT
To get a better picture, I first discuss the day chart: after the sideways movement of the month of April, there was only an outbreak upwards in the last few days and this to close the gap, this outbreak does ensure that we are above the MA50 This could now provide support this is important to keep an eye on in the first week, the RSI must also go below 50 to drop further! On Monday it runs around 505. If it breaks, the next target is 482, an old support!
Now the hour chart
Here we saw a short signal again in the last hours of yesterday, it is important that it now remains below the MA50, I have made a slightly rising trend channel from the sideways movement which now coincides with 505, this is also the level of the MA50 in the daily graph as discussed earlier. See here the importance of this level. Support can still be found here!
An overview :
There is a short signal in the hour chart to 505 initially, below 505 (MA50) there is also a short signal in the day chart which will give a larger drop initially to 482.
Follow this idea for updates!
Good luck traders!
regards
TT
Comment:
Hi, with a thump the aex has fallen through his supports, the disadvantage is that there is a gap around 512 that can be closed in the long term, when it is now difficult to say. Note that it took until last week to close the 528 (6/03/20) gap. The RSI has now entered OS territory, which means that every revival should be seen as a correction to this decline. The first target is 482, this is an important level to be overcome, where the focus is into the coming days.
Comment:
Hi everyone, the expected decline has not yet started, the analysis stated that it was important that the MA50 had to break in order to continue to decline, see that the MA50 once again served as support on Monday, so we bounced back. This means that for the time being the scenario that we first go to 482 will disappear, the 528 can now pull like a magnet again. If this would break the road is open to 545 (another small gap of 05/03/20) but we are not there yet.
In the hour chart, we were again broken by the MA50 yesterday with force (see this morning's open gap again).
The RSI is not yet OB. For the time being, it will remain a sideways movement between 500 - 528 in the coming period
In the hour chart, we were again broken by the MA50 yesterday with force (see this morning's open gap again).
The RSI is not yet OB. For the time being, it will remain a sideways movement between 500 - 528 in the coming period
Comment:
Hi everyone: "gaps" you either love it or hate it. It certainly makes it difficult to judge because of their attractive effect. So I keep in mind that these can be closed. We are back under MA50 and the RSI has become OS again which is a negative development. It is still a sideways move for the time being, real trend reversal only below the green ascending trend line (now around 483). A descending resistance line can now also be noted at the top.
Good luck traders!
Hi everyone: "gaps" you either love it or hate it. It certainly makes it difficult to judge because of their attractive effect. So I keep in mind that these can be closed. We are back under MA50 and the RSI has become OS again which is a negative development. It is still a sideways move for the time being, real trend reversal only below the green ascending trend line (now around 483). A descending resistance line can now also be noted at the top.
Good luck traders!